8-K/A filed November 19, 2024, 6:59 PM ET ticker TSEOF CIK 0001519061

other material confidence high sentiment neutral materiality 0.65

Trinseo PLC (TSEOF): restructuring charge — Trinseo amends restructuring plan; expects $76-97M pre-tax charges for Stade shutdown and workforce reductions

Trinseo PLC

Total pre-tax restructuring charges $76-97M: decommissioning/demolition $21-26M, contract terminations $27-31M, severance $25-26M, asset-related $3-14M.
Actions expected substantially complete by end of 2027; total cash payments estimated $69-79M, substantially all by end of 2027.
Entered agreement to license polycarbonate technology and sell equipment to affiliate of Deepak Nitrite for use in India.
Restructuring includes combining management of three businesses, workforce reduction, and exit of virgin polycarbonate production at Stade, Germany.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Trinseo PLC announced a restructuring with charges of $76 million to $97 million affecting Engineered Materials, Plastics Solutions and Polystyrene businesses; Stade, Germany polycarbonate plant (a reduction in workforce of supporting functions).

Type: restructuring
Charge: $76 million to $97 million
Affected area: Engineered Materials, Plastics Solutions and Polystyrene businesses; Stade, Germany polycarbonate plant
Headcount: a reduction in workforce of supporting functions

Exact text from the filing

In connection with the Stade Shutdown and the 2024 Restructuring Plan, the Company expects to record total pre-tax restructuring charges of $76 million to $97 million, principally comprised of approximately $21 million to $26 million related to decommissioning and demolition costs, approximately $27 million to $31 million of contract terminations and other costs, and approximately $25 million to $26 million related to severance and related benefit costs. Additionally, asset-related charges of approximately $3 million to $14 million will also be incurred as determined by the outcome of the Deepak transaction.

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Source: SEC EDGAR

accession 0001558370-24-015854

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